POUND-euro parity is likely to happen in the next week, according to the Bank of New York, which said it is possible considering market liquidity is as thin as it is.

UNSUSPECTING motorists have been stung after selling their cars for stolen bank drafts.

ONE of the country’s largest fund administrators has scooped a top European award.

Two hundred new jobs are to be created in Cork over the next two years as part of a joint venture between AIB and the Bank of New York.

THE value of funds administered in Ireland surged 23% to €785 billion this year, according to a major report published yesterday.

THE US dollar gained the most in three weeks against the euro yesterday after a Treasury Department report showed investors bought US assets at the fastest pace since February.

Iseq-quoted Horizon Technology Group has put in place a Level 1 Over-The-Counter (OTC) ADR (American Depositary Receipts) Programme, which becomes effective today.

The ISEQ in Dublin closed down 22 points to 5223 with Ryanair dropping over 3%.

AIB owned Goodbody Stockbrokers is to outsource its clearing and settlement operations to a subsidiary of Bank of New York.

The dollar rose slightly higher against the euro in early trade, as analysts said activity appeared to settle down since the G7 meeting over the weekend.

Pershing Securities International Ltd has been admitted as a new member of the Irish Stock Exchange.

Pharmaceutical firm Elan has bought back bonds worth almost $800m (€649.51m) from money raised in a recent share and bond offering.

A New York state woman who allegedly robbed six banks in 48 hours was caught after being given a ticket for not wearing her seat belt.

FORMER currency trader John Rusnak will plead guilty to criminal charges in the €750 million trading scandal that rocked Allied Irish Banks this year, sources close to the investigation said last night.

Share prices were higher in choppy trade as defensive buying in the pharmaceutical sector, gains among technology stocks and tobacco companies helped offset a weak retail sector after Sears issued a third-quarter profit warning, dealers said.

The FTSE 100 Index ended another torrid week on the back foot today after financial stocks struggled in the face of more grim news.

Investors were in an edgy mood today as the FTSE 100 Index fell back ahead of crucial unemployment numbers in the United States.

Ten Americans held hostage by Iraq during the Gulf War are suing the US Treasury Department, it was reported today.

Prices of American Depositary Receipts in Asian companies closed lower, as technology and telecoms pressured Asia lower, dealers said.

The US Government is investigating trading in shares of 38 companies, including major airlines, cruise lines, General Motors and Raytheon, to determine if people used advance knowledge of the terror attacks to profit.

US technology stocks have resumed their slide as investors collected profits from last week's rally.

Net income fell 40% at JP Morgan Chase & Co in the first quarter compared with the same period a year earlier, but the results soundly beat analysts' expectations.